Morning Digest | All eyes on Modi’s possible meet with Xi in South Africa; Praggnanandhaa heads to World Cup Chess finals, and more
The Hindu
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Praggnanandhaa heads to World Cup Chess finals, beating Fabiano Caruana
Continuing his dream run, Indian Grandmaster R Praggnanandhaa on August 21 stunned world No.3 Fabiano Caruana 3.5-2.5 via the tie-break in the semifinals to set up a summit clash with world number one Magnus Carlsen of Norway at the FIDE World Cup chess tournament in Baku.
As Modi lands in South Africa, possible meet with Xi to be watched most closely
As Prime Minister Narendra Modi lands in South Africa on Tuesday to attend the XVth BRICS summit in Johannesburg, all eyes are on whether he will hold talks with Chinese President Xi Jinping in an effort to resolve the three-year-old stand-off at the Line of Actual Control (LAC).
‘India must ramp up testing and maintain close watch on new global variants of COVID-19’
“While the COVID-19 situation in the country remains stable and public health systems in the country remain geared up, there is a need for States to monitor trends of Influenza-like Illness (ILI) and Severe Acute Respiratory Infections (SARI) cases, and send sufficient samples for testing of COVID-19 while ramping up Whole Genome Sequencing,” P.K. Mishra, Principal Secretary to Prime Minister Narendra Modi said, after chairing a high-level meeting on August 21 to review the global and national COVID-19 situation, newer variants of the virus in circulation, and their public health impact.
Landslip in Uttarakhand kills baby, mother and aunt
Bangladesh asks Adani Power to resume full supplies from Jharkhand plant amid payment disputes and low demand.
Rupee strengthens to 86.84 against the dollar amid trade war fears, market volatility, and RBI intervention.
WazirX announced the completion of its asset rebalancing process and urged investors to support its restructuring scheme.
Vespa introduces luxury scooter portfolio in India, unveiling special editions inspired by Indian artistry and opulence.
Dentzz Dental utilizes AI for precision care, leading to increased efficiency, accuracy, and patient satisfaction in dental treatments.
Former CEA Arvind Subramanian critiques RBI policies, fiscal framework, income tax cuts, and weak private investment in India.
President Trump imposes 25% tariffs on steel and aluminium imports, affecting India and prompting concerns over trade relations.
CEA highlights Southern States' economic prowess, urging benchmarking against global standards and emphasizing need for skill improvement.
The Union Budget unveiled on February 1, 2025, has come at a time of unprecedented global uncertainty and a flagging domestic economy. The real GDP growth is estimated at 6.4% for 2024-25 and between 6.3-6.8% for 2025-26, a far cry from >8 percent growth required annually to make India a developed nation by 2047. While much attention has been devoted to the demand stimulus through income tax cuts, not enough is said about the proposed reforms in urban development, tariff rationalisation, and regulatory simplification aimed at making Indian cities and corporates more competitive. Since the majority of economic activity is located in cities (urban areas account for ~55% of GDP) and produced by large corporates (~40% of the national output and 55% of India’s exports), the above-mentioned reforms have a pivotal role in improving India’s trend growth rate. Below we unpack each reform.
IHCL unveils Taj Bandstand luxury hotel project in Mumbai after 17 years, set to be iconic landmark.
Government and LIC selling majority stake in IDBI Bank, with due diligence process underway for potential investors.
Prime Minister Modi's meetings with President Trump may lead to tariff reductions on U.S. goods like pecan nuts.
President Trump announces 25% tariff on steel and aluminium imports, minimal impact on Indian steel industry.